The Board of Directors at Ibadan Electricity Distribution Company (IBEDC) has announced Francis Agoha as its new acting managing director. This follows the expiration of the tenure of Kingsley Achife, whose contract as Managing Director will not be renewed.

In a statement, the Board thanked him for his “invaluable contributions and the solid foundation laid for our ongoing transformation.”

IBEDC’s statement reads further: “In a seamless transition, Francis Agoha, who has been an integral part of the executive team as Chief Technical Officer, assumes the role of acting managing director.

“Agoha brings over 20 years of experience in the power sector. His strategic acumen positions him aptly to spearhead our company’s trajectory forward. “He will collaborate closely with the board to ensure continuity and drive our strategic imperatives.

“Concurrently, as part of IBEDC’s strategic plan to successfully transition to new investors while ensuring a focus on improving customer satisfaction (supply availability and reliability) and commercial and technical growth (improved ATC&C), the Board has appointed Adeoye Fadeyibi as the Expert Consultant Adviser to the Board.

“Fadeyibi will collaborate with the board and the acting managing director to spearhead initiatives aimed at reducing commercial and technical losses within the company.“His expertise and leadership will be pivotal in advancing the company’s goals and enhancing operational efficiency while working closely with the board and relevant stakeholders in delivering the transition timeline mandate.”

IBEDC added that “our steadfast commitment remains unwavering: delivering reliable electricity services to our esteemed customers and stakeholders.

‘These strategic appointments signal our resolve to accelerate growth, enhance performance, and navigate a successful transition with a committed focus.”